Ravanelli was relieved of his duties after a 3-1 home defeat against Valenciennes left Ajaccio level on points with bottom club Sochaux with 12 matches gone.
Former Bastia and Metz player Bracconi will take charge with immediate effect and club president Alain Orsoni believes the team is in capable hands.
"Christian Bracconi has the capacity to carry out this mission," he told beIN Sport.
"There comes a time when we must make decisions, even if they are not happy.
"There are a whole range of factors that accumulate - the club is in a downward spiral.
Asked whether he would be making contact with former Rennes manager Frederic Antonetti, Orsoni insisted there were other coaches in contention.
"Is Antonetti in our price? Is Antonetti interested? There are other names," he added.
Ajaccio travel to Toulouse for a Ligue 1 clash on Saturday.
